There is no doubt that Information Technology has proven to be an integral part of businesses all over the world. The prevalent distribution of the internet, broadband networks, and mobile telephones all show how important Information Technology has become. In spite of the global economic downturn in recent times, the use of IT has continued to grow. And as the internet grows, so are the different facets of businesses that have found their footings on the technology platform. The reason for this is not so strange after all. The fact is that Information Technology has become a key part in all the different aspects of economic activity.
Today, almost all businesses; small, medium, and large, now use internet-enabled computers. The question worth pondering on is; how does Information Technology impact economic growth and the efficiency of businesses and organizations? Secondly, under what conditions can IT become an effective tool in promoting sophisticated business transactions that will ultimately impact on economic growth?
Information Technology in Pakistan
Information Technology is barely over twenty years old in Pakistan. It is important to mention that in the 80’s; many people have started using the privately owned computer for personal and business activities but not on a large scale. In the late 90s, universities in Pakistan started taking IT education more seriously. Over the years, Pakistan has witnessed a huge development in the area of Information Technology as it relates to business. There is no doubting the fact that Pakistan is still behind in terms of business structure, development, and organization. However, the current growth is exponential and it is expected to continue growing.
Internet Based Business in Pakistan
Internet-based business in Pakistan is still in its infancy but with a high growth rate. Many businesses are still skeptical about launching their businesses fully online due to internet security concerns. It goes without saying that a good number of businesses of Pakistan origin have not taken complete advantage of what the IT platform can offer their business.
Impact of IT on Business in Pakistan
Modern businesses definitely need better IT for effective operations and management of their business activities. Systems such as Retail and Business Management Systems, Inventory Management Systems, and Point of Sales are effective tools needed for seamless business transactions. Many countries of the world have explored and are still exploring Information Technology to enhance the effectiveness of how business is been done and Pakistan cannot afford to take the back seat on this. Wider usage of IT applications in the different aspects of business in the country will definitely improve the demand and supply chain performance as well as the profitability of the businesses. Ultimately, this will culminate in rapid development and economic growth in the country.
Information Technology has been impacting greatly on businesses in Pakistan but it is believed that there is still room for improvement. Businesses in the nation need to fully embrace technology to be able to enjoy the impact to the fullest. A working system must be put in place by businesses whereby they can integrate Information Technology into every aspect of their everyday business dealings.